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VODAFONE GROUP PUBLIC LIMITED COMPANY LAUNCHES CASH TENDER OFFERS FOR U.S. DOLLAR NOTES DUE 2025 AND 2028

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NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY PERSON RESIDENT AND/OR LOCATED IN, ANY JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION IS UNLAWFUL

NEWBURY, England, Feb. 5, 2025 /PRNewswire/ — Vodafone Group Plc (“Vodafone” or the “Company”) announces the launch of its offers to purchase for cash in two concurrent, but separate offers, any and all of its outstanding (i) 4.125% Notes due May 2025 (the “Fixed Price Notes”), of which $734,128,000 is outstanding, and (ii) 4.375% Notes due May 2028 (the “Fixed Spread Notes” and, together with the Fixed Price Notes, the “Notes”), of which $575,122,000 is outstanding, upon the terms of, and subject to the conditions in, the offer to purchase dated February 5, 2025 (the “Offer to Purchase”) and the accompanying notice of guaranteed delivery (the “Notice of Guaranteed Delivery” and, together with the Offer to Purchase, the “Tender Offer Documents”).

Each offer to purchase each series of Notes is referred to herein as an “Offer” and the offers to purchase the Notes as the “Offers.” Capitalised terms not otherwise defined in this announcement have the same meaning as assigned to them in the Offer to Purchase.

Holders are advised to read carefully the Tender Offer Documents for full details of, and information on the procedures for participating in, the Offers. All documentation relating to the Offers, including the Tender Offer Documents, together with any updates, are available at the following website: https://deals.is.kroll.com/vodafone-usd.

The following tables set forth certain terms of the Offers:

Title of Security

CUSIP / ISIN

Outstanding
Principal
Amount

Reference U.S.
Treasury Security

Bloomberg
Reference Page(1)

Fixed Spread
(basis points)

Fixed Price(2)

4.125% Notes due May
2025

92857WBJ8 /
US92857WBJ80

$734,128,000

N/A

N/A

N/A

$1,000

4.375% Notes due May
2028

92857WBK5/
US92857WBK53

$575,122,000

4.25% U.S.
Treasury due
January 15, 2028

FIT1

20

N/A

(1)  The page on Bloomberg from which the Dealer Managers will quote the bid-side price of the applicable Reference U.S. Treasury Security.

(2)  Per $1,000 in principal amount of Fixed Price Notes (as defined below) validly tendered and accepted for purchase.

 

All Notes accepted in the Offers will be cancelled and retired by the Company.

Purpose of the Offers

The Offers, the Concurrent Non-U.S. Tender Offers (as defined below) and the 2025 Notes Redemption (as defined below) are being undertaken to, among other things, proactively manage the Company’s outstanding debt portfolio, with a focus on the Company’s near-dated maturities. 

Concurrent Non-U.S. Tender Offers

Concurrently with the launch of the Offers, the Company has commenced cash tender offers for any and all of its outstanding €1,000,000,000 1.875% Notes due 2025, €1,000,000,000 1.125% Notes due 2025, €1,750,000,000 2.200% Notes due 2026, €750,000,000 0.900% Notes due 2026, €500,000,000 1.50% Notes due 2027, £250,000,000 5.625% Notes due 2025, CHF 175,000,000 0.625% Notes due 2027, AUD 450,000,000 4.200% Notes due 2027, NOK 850,000,000 3.215% Notes due 2025, NOK 850,000,000 3.115% Notes due 2027, NOK 500,000,000 2.925% Notes due 2027, HKD 455,000,000 2.850% Notes due 2027 and HKD 1,115,000,000 2.640% Notes due 2027 (the “Concurrent Non-U.S. Tender Offers”).

The Concurrent Non-U.S. Tender Offers are not being made, and will not be made, directly or indirectly, in or into the United States or to, or for the account or benefit of, any U.S. Person (as defined in Regulation S under the U.S. Securities Act of 1933).

2025 Notes Redemption

Concurrently with the launch of the Offers, the Company is issuing a notice of redemption in respect of any Fixed Price Notes not purchased by the Company in the Offers (the “2025 Notes Redemption”), at a price equal to the greater of (1) 100% of the principal amount of such Notes plus accrued and unpaid interest to the date of redemption, if any, and (2) the sum of the present values of the remaining scheduled payments of principal and interest on such Notes (excluding any portion of such payments of interest accrued as of the date of redemption) discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the sum of (i) the adjusted treasury rate (as defined in the prospectus supplement dated May 23, 2018 relating to the Fixed Price Notes) plus (ii) 20 basis points, plus accrued and unpaid interest, if any, to the date of redemption.

Purchase Price Consideration

Upon the terms and subject to the conditions set forth in the Tender Offer Documents, Holders of the Notes who validly tender and do not validly withdraw the Notes at or prior to the Expiration Time or the Guaranteed Delivery Date pursuant to the Guaranteed Delivery Procedures, and whose Notes are accepted for purchase by the Company, will receive the Purchase Price Consideration for each $1,000 principal amount of the Notes, which will be payable in cash.

The Purchase Price Consideration for each $1,000 principal amount of Fixed Price Notes validly tendered, not validly withdrawn, and accepted by us pursuant to the relevant Offer will be the Fixed Price specified in the table above.

The Purchase Price Consideration for each $1,000 principal amount of Fixed Spread Notes validly tendered, not validly withdrawn, and accepted by us pursuant to the relevant Offer will be calculated at the Price Determination Time and will be determined in accordance with standard market practice, as described below, using the sum of (such sum, the “Offer Yield”):

(i)  the reference yield, as calculated by the Dealer Managers in accordance with standard market practice, that corresponds to the bid-side price of the Reference U.S. Treasury Security in the table above for the Notes appearing at the Price Determination Time on the Bloomberg Reference Page specified in the table above for the Notes (or any other recognized quotation source selected by Vodafone in consultation with the Dealer Managers if such quotation report is not available or manifestly erroneous) (such reference yield, the “Reference Yield”), plus

(ii)  the Fixed Spread specified in the table above.

Subject to the terms and conditions described in the Tender Offer Documents, the Price Consideration for each $1,000 principal amount of the Fixed Spread Notes accepted by us pursuant to the relevant Offer will be determined in accordance with standard market practice as described by the formula set forth in Annex A-1 to the Offer to Purchase, and will equal (i) the present value on the Settlement Date of $1,000 principal amount of such Notes due on the scheduled maturity date of such Notes and all scheduled interest payments on such Notes to be made from (but excluding) the Settlement Date up to (and including) such scheduled maturity date, discounted to the Settlement Date at a discount rate equal to the Offer Yield, minus (ii) the Accrued Interest per $1,000 principal amount of the Fixed Spread Notes; with the total amount being rounded to the nearest cent per $1,000 principal amount of such Notes.

Vodafone will issue a press release specifying the Purchase Price Consideration for the Fixed Spread Notes as soon as reasonably practicable after the determination thereof by the Dealer Managers.

Accrued Interest

In addition to the Purchase Price Consideration, Holders whose Notes are accepted for purchase will be paid the Accrued Interest thereon. Interest will cease to accrue on the Settlement Date for all Notes accepted in the Offers. For avoidance of doubt, interest will cease to accrue on the Settlement Date for all Notes accepted in the Offers, including Notes that are delivered pursuant to the Guaranteed Delivery Procedures. All Notes accepted in the Offers will be canceled and retired by Vodafone.

Key Dates, Offer Period and Results

Holders of the Notes should note the following dates relating to the Offers:

Date

Calendar Date

Launch Date

February 5, 2025.

 

Price Determination Time

 

At or around 11:00 a.m., New York City time, on February 11, 2025, unless
extended or earlier terminated by the Company in its sole and absolute
discretion, subject to applicable law.

 

Withdrawal Deadline

 

5:00 p.m., New York City time, on February 11, 2025, unless extended or
earlier terminated by the Company in its sole and absolute discretion, subject
to applicable law.

 

Expiration Time

 

5:00 p.m., New York City time, on February 11, 2025, unless extended or
earlier terminated by the Company in its sole and absolute discretion, subject
to applicable law.

 

Results Announcement Date

 

The first business day after Expiration Time, February 12, 2025.

 

Guaranteed Delivery Date

 

5:00 p.m., New York City time, on February 12, 2025.

 

Settlement Date

 

In respect of accepted Notes that are delivered at or prior to the Expiration
Time, the Company expects the Settlement Date to occur on the third
business day after the Expiration Time, February 14, 2025. 

 

Guaranteed Delivery

 

Settlement Date

 

 

In respect of accepted Notes that are delivered pursuant to the Guaranteed

 

Delivery Procedures, the Company expects the Guaranteed Delivery
Settlement Date to occur on the second business day after the Guaranteed
Delivery Date, February 14, 2025.

 

The deadlines set by any intermediary and The Depository Trust Company (“DTC) for participation in the Offers may be earlier than the relevant deadline specified above. The acceptance of Notes for purchase is conditional on the satisfaction of the conditions of the Offers as provided in “Description of the Offers—Conditions to the Offers” in the Offer to Purchase.

The Company has retained Merrill Lynch International and Barclays Capital Inc. as Dealer Managers and Kroll Issuer Services Limited as Tender and Information Agent (the “Tender and Information Agent”) for the purposes of the Offers.

Questions regarding procedures for tendering Notes may be directed to the Tender and Information Agent at +44 20 7704 0880 (London) or by email to vodafone-usd@is.kroll.com, Attention: Owen Morris. Questions regarding the Offers may be directed to Merrill Lynch International at +1 (888) 292-0070 (toll free), +1 (980) 387-3907 or +44 207 996 5420 (in London) or by email to DG.LM-EMEA@bofa.com and to Barclays Capital Inc. at +1 (800) 438-3242 (toll free), +1 (212) 528-7581 or +44 203 134 8515 (in London) or by email to us.lm@barclays.com.

This announcement is for informational purposes only and does not constitute an offer to buy, or a solicitation of an offer to sell, any security. No offer, solicitation, or sale will be made in any jurisdiction in which such an offer, solicitation, or sale would be unlawful. The Offers are only being made pursuant to the Offer to Purchase. Holders of the Notes are urged to carefully read the Offer to Purchase before making any decision with respect to the Offers.

The distribution of this announcement in certain jurisdictions may be restricted by law. Persons into whose possession this announcement comes are required by each of the Company, the Dealer Managers and the Tender and Information Agent to inform themselves about and to observe any such restrictions.

Offer and Distribution Restrictions

Italy

None of the Offers, this announcement, the Offer to Purchase or any other document or materials relating to the Offers has been or will be submitted to the clearance procedures of the Commissione Nazionale per le Società e la Borsa (“CONSOB”) pursuant to Italian laws and regulations. The Offers are being carried out in the Republic of Italy (“Italy“) as an exempt offer pursuant to article 101-bis, paragraph 3-bis of the Legislative Decree No. 58 of February 24, 1998, as amended (the “Financial Services Act”) and article 35-bis, paragraph 4 of CONSOB Regulation No. 11971 of May 14, 1999, as amended. Holders or beneficial owners of the Notes that are resident or located in Italy can tender Notes for purchase in the Offers through authorised persons (such as investment firms, banks or financial intermediaries permitted to conduct such activities in Italy in accordance with the Financial Services Act, CONSOB Regulation No. 20307 of February 15, 2018, as amended from time to time, and Legislative Decree No. 385 of September 1, 1993, as amended) and in compliance with any other applicable laws and regulations and with any requirements imposed by CONSOB or any other Italian authority.

Each intermediary must comply with the applicable laws and regulations concerning information duties vis-à-vis its clients in connection with the Notes and/or the Offers.

United Kingdom

The communication of this announcement and the Offer to Purchase and any other documents or materials relating to the Offers is not being made by and such documents and/or materials have not been approved by an “authorised person” for the purposes of section 21 of the Financial Services and Markets Act 2000 (“FSMA 2000”). Accordingly, such documents and/or materials are not being distributed to, and must not be passed on to, the general public in the United Kingdom. The communication of such documents and/or materials is exempt from the restriction on financial promotions under section 21(1) of the FSMA on the basis that it is only directed at and may only be communicated to: (1) persons who are outside of the United Kingdom; (2) investment professionals falling within the definition contained in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Financial Promotion Order”); (3) those persons who are existing members or creditors of the Company or other persons falling within Article 43(2) of the Financial Promotion Order; or (4) any other persons to whom such documents and/or materials may lawfully be communicated in accordance with the Financial Promotion Order (all such persons together referred to as “relevant persons”). This announcement, the Offer to Purchase and any other documents or materials relating to the Offers are only available to relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

France

The Offers are not being made, directly or indirectly, and neither this announcement, the Offer to Purchase nor any other document or material relating to the Offers has been or shall be distributed, to the public in the Republic of France other than to qualified investors as defined in Article 2(e) of the Regulation (EU) 2017/1129 (the “Prospectus Regulation”). Neither this announcement, the Offer to Purchase nor any other document or materials relating to the Offers have been or will be submitted for clearance to nor approved by the Autorité des Marchés Financiers.

Belgium

Neither this announcement, the Offer to Purchase nor any other brochure, documents or materials relating to the Offers has been, or will be, submitted or notified to, or approved or recognized by, the Belgian Financial Services and Markets Authority (“Autorité des services et marchés financiers”/”Autoriteit voor Financiële Diensten en Markten”). In Belgium, the Offers do not constitute a public offering within the meaning of Articles 3, §1, 1° and 6, §1 of the Belgian Law of April 1, 2007 on public takeover bids (“loi relative aux offres publiques d’acquisition”/”wet op de openbare overnamebiedingen”), as amended or replaced from time to time. Accordingly, the Offers may not be, and is not being advertised, and this announcement, the Offer to Purchase, as well as any brochure, or any other material or document relating thereto (including any memorandum, information circular, brochure or any similar document) may not, has not and will not be distributed or made available, directly or indirectly, to any person located and/or resident within Belgium, other than to “qualified investors” (“investisseurs qualifiés”/”qekwalificeerde belegge”), within the meaning of Article 2(e) of the Prospectus Regulation acting on their own account. Insofar as Belgium is concerned, the Offers are made only to qualified investors, as this term is defined above. Accordingly, the information contained in this announcement, the Offer to Purchase or in any brochure or any other document or material relating thereto may not be used for any other purpose or disclosed or distributed to any other person in Belgium.

General

This announcement does not constitute an offer to buy or the solicitation of an offer to sell Notes (and tenders of Notes in the Offers will not be accepted from Holders) in any circumstances in which such offer or solicitation or acceptance is unlawful. In those jurisdictions where the securities, blue sky or other laws require the Offer to be made by a licensed broker or dealer and any Dealer Manager or any of the Dealer Managers’ affiliates is such a licensed broker or dealer in any such jurisdiction, the Offers shall be deemed to be made by such Dealer Manager or such Dealer Manager’s affiliate, as the case may be, on behalf of the Company in such jurisdiction.

Each tendering Holder participating in the Offers will be deemed to give certain representations in respect of the jurisdictions referred to above and generally as set out in the section titled “Description of the Offers—Procedures for Tendering Notes—Other Matters” in the Offer to Purchase. Any tender of Notes for purchase pursuant to the Offers from a Holder that is unable to make these representations will not be accepted. Each of the Company, the Dealer Managers and the Tender and Information Agent reserves the right, in its sole and absolute discretion, to investigate, in relation to any tender of Notes for purchase pursuant to the Offers, whether any such representation given by a Holder is correct and, if such investigation is undertaken and as a result the Company determines (for any reason) that such representation is not correct, such tender shall not be accepted.

Forward-Looking Information

This announcement contains certain forward-looking statements which reflect the Company’s intent, beliefs or current expectations about the future and can be recognised by the use of words such as “expects,” “will,” “anticipate,” or words of similar meaning. These forward-looking statements are not guarantees of any future performance and are necessarily estimates reflecting the best judgment of the senior management of the Company and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. As a consequence, these forward-looking statements should be considered in light of various important factors that could cause actual results to differ materially from estimates or projections contained in the forward-looking statements, which include, without limitation, the risk factors set forth in the Offer to Purchase. The Company cannot guarantee that any forward-looking statement will be realised, although it believes it has been prudent in its plans and assumptions. Achievement of future results is subject to risks, uncertainties and assumptions that may prove to be inaccurate. Should known or unknown risks or uncertainties materialise, or should underlying assumptions prove inaccurate, actual results could vary materially from those anticipated, estimated or projected. The Company undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances or to reflect the occurrence of unanticipated events, except as required by applicable law.

View original content:https://www.prnewswire.com/news-releases/vodafone-group-public-limited-company-launches-cash-tender-offers-for-us-dollar-notes-due-2025-and-2028-302368634.html

SOURCE Vodafone Group Plc

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Technology

iPost and ZeroBounce Partner to Deliver Cleaner Data and Stronger Email Performance for Regulated Industries

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34 minutes ago

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July 20, 2026

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iPost, the leading email sending platform built to solve real challenges in highly regulated and other data and content sensitive industries, including gaming, legal services, and scholarly/STM (science, technology, medical) publishing, today announced a new strategic partnership with ZeroBounce, a leading email validation and deliverability company. The partnership brings native, real-time email list verification directly into the iPost platform, helping enterprise marketers protect sender reputation, reduce bounce rates, and maximize inbox placement.

SAN MATEO, Calif., July 20, 2026 /PRNewswire-PRWeb/ — iPost, the leading email sending platform built to solve real challenges in highly regulated and other data and content sensitive industries, including gaming, legal services, and scholarly/STM (science, technology, medical) publishing, today announced a new strategic partnership with ZeroBounce, a leading email validation and deliverability company. The partnership brings native, real-time email list verification directly into the iPost platform, helping enterprise marketers protect sender reputation, reduce bounce rates, and maximize inbox placement.

“We’re thrilled to bring ZeroBounce’s validation technology into the iPost platform,” said Michael Nelson, VP of Partnerships at iPost. …This is exactly the kind of partnership that helps our clients grow with confidence.”

For iPost’s clients in highly regulated and compliance-driven industries, data quality is more than a best practice; it’s a business requirement. Through this partnership, iPost customers can now validate email addresses at the point of collection and on an ongoing basis, ensuring that campaigns reach real, engaged recipients while minimizing the risk of hard bounces, spam traps, and deliverability penalties that can damage sender reputation.

The integration reflects both companies’ shared commitment to helping marketers do more with cleaner, more reliable data. By combining iPost’s advanced segmentation, personalization, and deliverability infrastructure with ZeroBounce’s industry-leading email validation technology, joint customers gain a more complete, end-to-end solution for email program health.

“We’re thrilled to bring ZeroBounce’s validation technology into the iPost platform,” said Michael Nelson, VP of Partnerships at iPost. Our clients operate in industries where trust, compliance, and precision aren’t optional; they’re everything. Partnering with ZeroBounce lets us give our customers an even stronger foundation for their email programs, so every campaign they send reaches a real inbox and reflects the quality our brand is known for. This is exactly the kind of partnership that helps our clients grow with confidence.”

The integration is available today to iPost customers and forms part of iPost’s broader 2026 product roadmap, which includes continued investment in AI-powered content optimization, personalization, and deliverability.

To celebrate the launch of the integration, iPost and ZeroBounce are offering exclusive incentives for joint customers. ZeroBounce is offering 15% off Email Validation credits and ZeroBounce One subscriptions using promo code IPOST15, valid for 30 days beginning July 9. iPost is also offering a matching 15% discount on implementation and professional services through August 31. Together, these offers make it easier for organizations to deploy the integrated solution, improve data quality and deliverability, and maximize the performance of their email marketing programs.

To mark the partnership, iPost and ZeroBounce co-hosted a live webinar that went beyond recycled best practices to explore what actually drives email performance. The session was led by Andrew Kordek, CMO and Strategist at iPost, and Anne-Marie Prince, Email Marketing Manager at ZeroBounce, who drew on decades of combined industry experience to revisit common assumptions, share real-world lessons, and offer practical strategies marketers can apply to their own programs right away. Topics included why first impressions matter more than marketers think, why deliverability ultimately falls on the sender, and why strong fundamentals still beat shiny new tactics. The full webinar is now available on demand here.

About iPost

iPost is a leading email-sending platform purpose-built to solve real challenges in highly regulated data and content-sensitive industries, including gaming, legal services, and scholarly/STM (science, technology, medical) publishing. With its flexible architecture, native data integrations, and unmatched customer support, iPost helps users create personalized, compliant, and impactful campaigns that drive measurable growth.

About ZeroBounce

ZeroBounce is an email validation and deliverability company that helps businesses improve email marketing performance by ensuring cleaner, more accurate mailing lists. Its tools help reduce bounce rates, protect sender reputation, and improve inbox placement for marketers across industries.

Media Contact

Marco Marini, iPost.com, 1 650-743-2660 press@ipost.com, marco@ipost.com, www.ipost.com

View original content:https://www.prweb.com/releases/ipost-and-zerobounce-partner-to-deliver-cleaner-data-and-stronger-email-performance-for-regulated-industries-302828263.html

SOURCE iPost.com

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Hut 8 Fully Commercializes 1 GW Beacon Point AI Data Center Campus with Second 352 MW IT Lease, Bringing Campus-Level Base-Term Contract Value to $19.6 Billion

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July 20, 2026

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15-year, 352 MW IT lease doubles the existing high-investment-grade tenant’s contracted capacity to 704 MW

Total contracted IT capacity across Hut 8’s AI data center portfolio rises to 949 MW, supported by 1,330 MW of utility capacity, with aggregate base-term contract value of $26.6 billion and average annual NOI of more than $1.75 billion

100% of Hut 8’s contracted AI data center capacity is leased to or backstopped by investment-grade counterparties

Renewal options increase potential campus-level contract value to $50.2 billion

MIAMI, July 20, 2026 /PRNewswire/ — Hut 8 Corp. (Nasdaq, TSX: HUT) (“Hut 8” or the “Company”), an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive technologies, today announced the commercialization of the second phase of its one-gigawatt Beacon Point data center campus in Nueces County, Texas through a second 15-year, $9.8 billion lease (the “Agreement”) for 352 megawatts (MW) of IT capacity (the “Transaction”). The tenant, the high-investment-grade company that executed the Phase 1 lease, has doubled its contracted IT capacity at the campus to 704 MW. The Transaction fully commercializes the Beacon Point campus against its 1,000 MW of utility capacity, secured under an interconnection agreement with AEP Texas for electric delivery service.

Transaction Highlights

Lease Structure: Triple net (NNN) lease executed on substantially the same terms as the Phase 1 lease.Tenant Profile: High-investment-grade company; the Phase 1 tenant.Compute Architecture: Hut 8 to deliver a second 352 MW AI factory designed to NVIDIA’s DSX reference architecture for gigawatt-scale AI infrastructure supported by 500 MW of utility capacity.Base-Term Contract Value: $9.8 billion over a 15-year base lease term, inclusive of a 3.0% annual base rent escalator; base-term contract value for the full 1,000 MW campus rises to $19.6 billion.NOI Contribution: Expected cumulative NOI contribution of $9.8 billion over the base term, or an average of $655 million per year upon stabilization; average annual NOI for the full 1,000 MW campus rises to $1.31 billion.Upside Economics: Three 5-year renewal options per lease increase potential campus-level contract value to $50.2 billion if all options are exercised.Delivery Timeline: Initial Phase 2 data hall delivery expected in Q2 2028.

Full Commercialization Driven by Power-First Development Model

With the Transaction, Beacon Point becomes Hut 8’s first fully commercialized AI data center campus. The Company secured the site, contracted the campus in full with investment-grade cash flows, financed Phase 1 with investment-grade debt, and commenced construction. Together, these stages demonstrate structural features of the Company’s disciplined, power-first development model, from origination through delivery:

Power-first underwriting preserves optionality across end markets: Initially underwritten on a speed-to-power thesis to serve Hut 8’s affiliated customer, American Bitcoin Corp., Beacon Point is now fully contracted under two 15-year AI leases to a high-investment-grade counterparty.First-principles approach to design and partnership supports efficient commercialization: Hut 8 has designed the campus around its tenant’s evolving requirements throughout development, including a redesign of the first data hall for Phase 1 to NVIDIA’s DSX reference architecture, enabling 57% more IT capacity within the same land and utility footprint. With this second lease, the tenant doubled its contracted capacity on substantially the same terms.Partnership-driven execution model mitigates execution risk: The campus’s full 1,000 MW of utility capacity is secured under an interconnection agreement with AEP Texas for electric delivery service, and no incremental capacity is required to serve the Phase 2 lease. Hut 8 will implement the partnership-driven model first implemented at River Bend and Beacon Point Phase 1 to deliver the site. Site preparation is underway, and long-lead critical equipment has been procured. Initial energization remains on schedule for Q1 2027.

Asher Genoot, CEO of Hut 8, said, “The real test of our power-first approach is what our partners are willing to commit against it. Our tenant at Beacon Point chose to double its footprint at the site, the strongest validation an asset can receive. We took this greenfield site from first lease to full commercialization in just months. That speaks to the quality of the sites we originate, the credibility of our delivery, and the long-term orientation of our partnerships. The opportunity ahead of us is to apply the same model across our development pipeline.”

Contracted Portfolio Highlights

Contracted Capacity: Total contracted IT capacity across Hut 8’s AI data center portfolio of 949 MW, comprising 704 MW at Beacon Point and 245 MW at River Bend.Contract Value and NOI Contribution: Cumulative base-term contract value across Hut 8’s AI data center portfolio of $26.6 billion, with expected average annual NOI of more than $1.75 billion.Counterparty Credit: 100% of Hut 8’s AI data center portfolio is leased to or backstopped by investment-grade counterparties.

Stock Repurchase Program

On December 4, 2024, as part of its capital management strategy, the Company launched a $250.0 million stock repurchase program (the “Stock Repurchase Program”) with respect to its common stock, par value $0.01 per share (the “Common Stock”). Under the Stock Repurchase Program, the Company may repurchase up to 6,159,439 shares of Common Stock (representing 5.0% of the current issued and outstanding Common Stock) in the next twelve months. The Company expects that any repurchases will be made through the facilities of Nasdaq at prevailing market prices, in accordance with applicable securities laws.

Non-GAAP Financial Measures

This press release includes a non-GAAP financial measure, expected net operating income (NOI) contribution, which the Company defines as expected lease revenue for a particular lease less any non-reimbursable operating expenses attributable to the leased property. The Company’s management team uses expected NOI contribution to measure the expected operating performance of a particular lease. Operating income is the GAAP measure most directly comparable to expected NOI contribution. In evaluating expected NOI contribution, you should be aware that in the future the Company may incur non-reimbursable lease operating expenses that are not currently known. The Company’s presentation of expected NOI contribution should not be construed as an inference that its future results will be unaffected by unusual or non-recurring items. Expected NOI contribution has important limitations as an analytical tool and you should not consider expected NOI contribution in isolation or as a substitute for analysis of results as reported under GAAP. For example, expected NOI contribution excludes the impact of selling, general and administrative expenses and depreciation and amortization, which have real economic effect and could materially impact the Company’s consolidated financial results. Other companies, including Real Estate Investment Trusts, may calculate expected NOI contribution differently than the Company does and, accordingly, the Company’s expected NOI contribution may not be comparable to similar measures published by such companies. No reconciliation of expected NOI contribution is included in this press release because the Company is unable to quantify certain amounts that would be required to be included in operating income without unreasonable efforts as such quantification would imply a degree of precision that would be confusing or misleading to investors.

Additional Transaction Information and Upcoming Communications

Hut 8 has made available on its website an investor presentation with further details regarding the Transaction.

For important news and information regarding the Company, including investor presentations and timing of future investor conferences, visit the Investor Relations section of the Company’s website, hut8.com/investors, and its social media accounts, including on X and LinkedIn. The Company uses its website and social media accounts as primary channels for disclosing key information to its investors, some of which may contain material and previously non-public information.

About Hut 8

Hut 8 is an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive technologies such as AI, high-performance computing, and ASIC compute. The Company develops, commercializes, and operates industrial-scale energy and data center infrastructure through a power-first, innovation-driven approach. For more information, visit hut8.com.

Cautionary Note Regarding Forward-Looking Information

This press release includes “forward-looking information” and “forward-looking statements” within the meaning of Canadian securities laws and United States securities laws, respectively (collectively, “forward-looking information”). All information, other than statements of historical facts, included in this press release that address activities, events, or developments that Hut 8 expects or anticipates will or may occur in the future, including statements relating to  the terms, value, and expected benefits of the Transaction and the Agreement, including expected contract value, NOI contribution, and potential value from renewal options, the timing of development, construction, energization, and delivery of the Beacon Point campus, the expected capacity of the campus, the Company’s development pipeline, and the Company’s future business strategy, competitive strengths, expansion, and growth of the business and operations more generally, and other such matters is forward-looking information. Forward-looking information is often identified by the words “may,” “would,” “could,” “should,” “will,” “intend,” “plan,” “anticipate,” “allow,” “believe,” “estimate,” “expect,” “predict,” “can, “might,” “potential,” “is designed to,” “likely,” or similar expressions.  

Statements containing forward-looking information are not historical facts, but instead represent management’s expectations, estimates, and projections regarding future events based on certain material factors and assumptions at the time the statement was made. While considered reasonable by Hut 8 as of the date of this press release, such statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information, including, but not limited to, risks relating to the construction of new data centers, including cost overruns, delays, supply chain issues, permitting or regulatory hurdles, unexpected technical challenges, and dependency on contractors; risks relating to the financing of new data centers, including the potential dilutive impact of equity issuances (if any), access to capital markets, timing and cost of financing, and market conditions such as increases in interest rates, declining equity valuations, volatility in credit markets, or tightening lending standards; risks impacting our ability to expand the power capacity at the River Bend campus, such as limitations of transmission and/or generation resources; failure of critical systems; geopolitical, social, economic, and other events and circumstances; competition from current and future competitors; risks related to power requirements; cybersecurity threats and breaches; hazards and operational risks; changes in leasing arrangements; Internet-related disruptions; dependence on key personnel; having a limited operating history; attracting and retaining customers; entering into new offerings or lines of business; price fluctuations and rapidly changing technologies; predicting facility requirements; strategic alliances or joint ventures; operating and expanding internationally; failing to grow hashrate; purchasing miners; relying on third-party mining pool service providers; uncertainty in the development and acceptance of the Bitcoin network; Bitcoin halving events; competition from other methods of investing in Bitcoin; concentration of Bitcoin holdings; hedging transactions; potential liquidity constraints; legal, regulatory, governmental, and technological uncertainties; physical risks related to climate change; involvement in legal proceedings; trading volatility; and other risks described from time to time in Company’s filings with the U.S. Securities and Exchange Commission. In particular, see the Company’s recent and upcoming annual and quarterly reports and other continuous disclosure documents, which are available under the Company’s EDGAR profile at sec.gov and SEDAR+ profile at sedarplus.ca.

 

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SOURCE Hut 8 Corp.

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Technology

CGI strengthens enterprise AI leadership with Databricks Brickbuilder Specializations in Public Sector and Generative AI

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34 minutes ago

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July 20, 2026

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GIB.A (TSX)
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Specializations recognize CGI’s proven experience combining deep industry expertise with governed AI delivery to help clients accelerate adoption and achieve business outcomes

MONTRÉAL, July 20, 2026 /PRNewswire/ — CGI (NYSE: GIB) (TSX: GIB.A), one of the largest independent IT and business consulting services firms in the world, today announced it has achieved two Databricks Brickbuilder Specializations in Public Sector and Generative AI (GenAI). The specializations recognize CGI’s proven history of helping organizations modernize data foundations, operationalize AI and deliver measurable business outcomes, particularly in complex, highly regulated and mission-critical environments.

As organizations increasingly seek to move generative AI from experimentation to enterprise-scale deployment, success depends on trusted data, strong governance and the ability to integrate AI into core business operations. CGI combines deep industry and domain expertise with end-to-end consulting, systems integration and managed services to help clients apply AI where it delivers the greatest business impact. The Databricks Brickbuilder Specializations recognize CGI’s experience helping organizations make that transition responsibly and at scale.

CGI is already delivering these capabilities across industries using the Databricks platform. Examples of measurable client outcomes include:

For a large telecommunications company, CGI’s GenAI-powered LLMOps framework on Databricks—which has been designed to scale across 200+ models—accelerated AI model deployment by a factor of four, reduced manual quality assurance by approximately 80%, improved production accuracy by 10% and expanded evaluation coverage tenfold; andFor an energy and utilities provider managing large volumes of engineering documentation, CGI’s AI-powered Knowledge Assistants use Databricks’ AI Search and generative AI capabilities to transform unstructured documents into actionable intelligence, reducing document search time by 85% and enabling faster, insight-driven decision-making across complex projects.

“Achieving the Databricks Brickbuilder Public Sector and GenAI Specializations reflects CGI’s experience helping clients move beyond AI pilots to enterprise-scale deployment,” said Wes Carberry, Senior Vice-President, Business Unit Leader and Databricks Global Executive Sponsor at CGI. “The challenge clients face today isn’t proving that AI can work—it’s integrating it into core operations with trusted data, effective governance and measurable business outcomes. By combining deep industry knowledge with proven delivery, we help clients apply AI in ways that solve real business challenges and create lasting value.”

The Databricks Brickbuilder Specialization Program recognizes partners with validated customer outcomes, certified technical expertise and proven delivery accelerators. CGI’s Public Sector Specialization recognizes its experience helping government organizations modernize mission-critical environments while meeting demanding security and compliance requirements. The GenAI Specialization recognizes CGI’s ability to design, build and operationalize enterprise generative AI solutions—from governed data foundations through production deployment using capabilities such as retrieval-augmented generation, model fine-tuning and AI agents.

“The Databricks Brickbuilder GenAI Specialization recognizes CGI’s experience helping organizations modernize data environments and operationalize AI on the Databricks platform,” said Amit Singh, Global Head of Partner GTM, AI at Databricks. “From regulated public sector environments to enterprise generative AI initiatives, CGI brings the delivery approach, technical depth and industry knowledge organizations need to move forward with confidence.”

CGI’s Databricks capabilities build on its recently announced Gold tier partner status and previous Brickbuilder Specializations, reflecting the company’s continued investment in helping clients modernize data platforms, operationalize AI responsibly and accelerate business value through trusted, enterprise-scale delivery.

About CGI
Founded in 1976, CGI is among the largest independent IT and business consulting services firms in the world. With 94,000 consultants and professionals across the globe, CGI delivers an end-to-end portfolio of capabilities, from strategic IT and business consulting to systems integration, managed IT and business process services and intellectual property solutions. CGI works with clients through a local relationship model complemented by a global delivery network that helps clients digitally transform their organizations and accelerate results. CGI Fiscal 2025 reported revenue is CA$15.91 billion and CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB). Learn more at cgi.com.

About CGI’s alliances
CGI’s global alliance strategy features partnerships with more than 150 technology companies and supports its local relationship model complemented by a global delivery network. This approach enables CGI consultants and professionals to remain independent and agile in selecting solutions that best fit each client’s unique needs, including technology stack requirements and considerations such as digital and AI sovereignty. Learn more at cgi.com/alliances.

View original content:https://www.prnewswire.com/news-releases/cgi-strengthens-enterprise-ai-leadership-with-databricks-brickbuilder-specializations-in-public-sector-and-generative-ai-302828661.html

SOURCE CGI Inc.

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